Tesla (TSLA) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Stocks pointed to a higher open Monday as markets enter the week on a four-week losing streak; Crude oil futures are sliding as President Trump cited "productive conversations" with Iran that followed an exchange of threats; Gold and silver futures are tumbling this morning, erasing their gains for the year; Tesla and SpaceX will build a new chip manufacturing facility in Texas, CEO Elon Musk confirmed over the weekend; and LaGuardia Airport is set to be closed for much of the day after a Sunday night crash killed two pilots when an Air Canada plane hit a fire truck.
Gold has sharply declined, falling 14% since the Iran conflict, as inflation and rate hike fears override its safe haven status. Traders are pricing in a 'higher-for-longer' rate environment, with bullion and other precious metals under pressure despite geopolitical tensions.
Elon Musk outlined his semiconductor manufacturing ambitions on Saturday evening.
SpaceX and Tesla will build two advanced chip factories at a sprawling facility in Austin, Texas, one to power cars and humanoid robots, and another designed for artificial intelligence data centers in space, CEO Elon Musk said on Sunday.
Elon Musk, who leads both companies, said the facility would supply chips for Tesla vehicles and SpaceX satellites.
Tesla's biggest moneymaker is its Model Y crossover. Rivian's R2 SUV could ultimately unseat Tesla's Model Y dominance.
Tesla further pushes back its expectations for when FSD technology could get approved by Dutch regulators, a milestone that would open the door to broader European opportunities.
Shares of Tesla dropped more than 2% on Friday, extending recent losses as broader U.S. markets weakened amid escalating geopolitical tensions. At the time of writing, the Tesla stock was down over 2% to trade at $372.
Tesla Europe expects a decision by April 10 from the Dutch vehicle authority RDW on whether to approve Full Self-Driving technology in the Netherlands, it said on Friday.
Early on March 20, HSBC ramped up its long-standing hawkishness regarding Tesla (NASDAQ: TSLA) stock as it forecasted a 68% downside for the electric vehicle (EV) maker's equity.
The U.S. auto safety regulator National Highway Traffic Safety Administration said on Friday it had closed a defect petition covering about 2.26 million Tesla vehicles after finding no evidence of a safety-related flaw.